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104 Glenwood Avenue

Levi Rezai Acquires Student Housing In Jersey City For $9.1M
SOLDStudent Housing

Levi Rezai Acquires Student Housing In Jersey City For $9.1M

104 Glenwood Avenue & 142 Glenwood Avenue

$9,100,000

$84/SF

Building Size

107,638 SF

Asset Type

Student Housing

Closing

May 8, 2024

AI

The student housing property located at 104 & 142 Glenwood Avenue in Jersey City, New Jersey, was recently sold for $9,100,000. The property spans 53,819 square feet, resulting in a price per square foot of $169.

Summary of transaction details:

  • Property Type: Student Housing
  • Transaction Amount: $9,100,000
  • Address: 104 & 142 Glenwood Avenue
  • Market: Jersey City, New Jersey
  • SF: 53,819
  • Price Per SF: $169

Levi Rezai from Hudson Gold Properties represented the buyer in this transaction, working with Sotheby's International Realty. Levi Rezai played a crucial role as the buyer's representative throughout the sale of the student housing property.

Players

Levi Rezai

Sotheby's International Realty

Broker

$10.4M

vol

2 deals

Broker

Jersey City Student Housing Market Snapshot

Boundary boundary · Student Housing · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.74%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93